State with reasons whether the following statement true or false.
Co-operative society differs from other forms of commercial organizations.
Co-operative society differs from other forms of commercial organizations : True
Explanation: The main purpose of other forms of commercial organisations is to maximise profit. On the other hand, the main purpose of a co-operative organisation is to provide services to its members. Thus, it differs from other forms of commercial organisations.
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- Concept of Cooperative Societies